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Gamification Market
The Gamification Market Touched USD 10.8 billion in 2021 and Estimated to reach USD 64.8 billion in 2029, growing at a CAGR of 26.9% over the forecast period (2022-2029).
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The factors driving the growth of Gamification Market includes rise in the number of e-learning platforms around the world, growing focus by companies on enhancing employee’s engagement, increasing penetration of smartphone, tablets and laptops and improvements in the living standards. According to the report published by Bloomberg, the Global E-Learning Market was calculated around USD 226 billion in 2020 and is expected to reach USD 370 billion by the end of 2026, growing at a CAGR of 8.56% over the forecast period (2021-2026), which will accelerate the Global Gamification Market in the approaching years. Moreover, growing advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) and Internet of Things (IoT) by organizations, rise in the launch of innovative products, rewards and recognition programs promoted by companies and rapid urbanization, are some of the additional factors supplementing the Gamification Market size. In addition, the increasing investments by major players on research and development, strategic mergers and alliances formed between key companies, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Gamification Market is hindered due to insufficient knowledge about gamification solutions.
The major players operating in the market are MPS Interactive Systems, Mambo.IO, Ambition, Verint, Hoopla, Microsoft, SAP, LevelEleven, Axonify Inc., IActionable, AON, Bi Worldwide, Centrical, Influitive, and Gamifier among others.
Based on Component, the Services segment is predicted to grow at a significant CAGR during the forecast period
Vendors are providing diversified services such as support and consulting services, which are easy to install and requires low maintenance, are propelling growth of the segment.
Based on Vertical, the Telecom segment is protected to expand at a robust CAGR over the forecast period
Rise in the number of subscribers with consistent experiences across all channels and incorporation of gamification services in the business models, are pushing segment’s growth.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
As per the Gamification Market Research, presence of the leading players such as Bi Worldwide, Microsoft and AON, increased adoption of advanced technologies by major companies, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Developments
In 2019, Microsoft integrated additional applications and features for Dynamic 365 by adding AI-driven insights. Through this improvement in the product, the organizations will be permitted to improve the customer’s experience
In 2019, SAP completed the acquisition of Qualtrics, which is an experience management software provider. Through this acquisition, the company has delivered incomparable employee, brand & customer experiences and has accelerated the new experience management category.
Market Segmentation
Segmentation by Component
Services
Solution
Segmentation by Deployment
On-Premises
Cloud
Segmentation by Organization Size
Small & Medium Enterprises
Large Enterprises
Segmentation by Vertical
Healthcare
Retail
Hospitality
BFSI
Manufacturing
Education
Media & Entertainment
IT & ITES
Telecom
Others
Segmentation by End-User
Consumer-Driven
Enterprise-Driven
Segmentation by Application
Sales
Marketing
Product Development
Support
Human Resources
Other Applications
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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This release was published on openPR.
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